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Gold/Mining/Energy : Harken Energy Corporation (HEC)

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To: art slott who wrote (3324)	8/2/1998 5:07:00 PM
From: jackie	Read Replies (1) of 5504

To all, From The Economist of July 18, 1998: "OIL SUPPLIES With the price of oil at around $13 a barrel, Sunday drivers have little to complain about. But many people worry about how long oil prices will stay low. Demand may revive over the next few years. And the Middle East's grip on oil supplies will intensify. At present, the region accounts for 65% of the world's 1 trillion barrels of proven oil reserves-a little more than its share a decade ago. These countries are running down their reserves at a much slower rate than the rest of the world. At present production rates, the Middle East has 88 years' worth of proven reserves; OPEC as a whole has 75 years. Non-OPEC countries have only 14 years' worth of proven reserves, which means that OPEC will control a growing share of world oil reserves." This post is for those of us who think the ultimate fate of HEC lies in geology and future demand of oil. Regards, Jack Simmons

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